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At some point during the divorce proceedings, petitioner was
informed by Mr. Mirabelli that intervenor had funds on deposit in
an individual retirement account maintained with Dean Witter
Reynolds, Inc. (the Dean Witter IRA), that could be used to pay
the marital debts. On April 1, 1998, the divorce court entered a
document styled “Qualified Domestic Relations Order Dean Witter
Reynolds, Inc.” (the QDRO). The QDRO assigns intervenor’s entire
interest in the Dean Witter IRA to petitioner. The QDRO also
directs the “immediate distribution of said interest/participant
share” to petitioner “in two parts”; i.e., 20 percent was to be
withheld on petitioner’s behalf for Federal income tax purposes,
and “the balance shall be distributed” to petitioner. By letter
dated April 3, 1998, intervenor’s divorce counsel transmitted the
QDRO to Dean Witter Reynolds, Inc. (Dean Whitter) with specific
instructions that the proceeds from the Dean Witter IRA be
forwarded to Mr. Mirabelli on behalf of petitioner.
A Distribution Request Form Account Termination (the form)
was processed by Dean Witter several weeks later. The form is
signed, but not dated, by intervenor. The form proceeds as
though intervenor, rather than petitioner, was the “participant”
with respect to the Dean Witter IRA and directs the proceeds of
the account to be paid to petitioner, without any amounts
withheld for Federal income tax purposes.
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Last modified: May 25, 2011